Latest Ratios: P/E Ratio 20.2x · EV/EBITDA 13.8x · ROE 7.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.5B | $2.1B | $1.4B | $1.4B | $1.4B | $1.5B | $1.2B | $1.5B | $1.2B | $1.3B | $1.1B |
| Enterprise Value | $2.8B | $2.4B | $1.1B | $1.2B | $2.1B | $1.3B | $979M | $1.5B | $1.4B | $1.7B | $1.3B |
| P/E Ratio → | 20.16 | 16.18 | 11.90 | 11.39 | 10.79 | 12.33 | 11.78 | 14.71 | 12.21 | 20.65 | 21.99 |
| P/S Ratio | 3.48 | 2.95 | 2.94 | 3.17 | 3.08 | 3.76 | 2.94 | 3.76 | 3.64 | 4.49 | 4.74 |
| P/B Ratio | 1.07 | 0.86 | 0.98 | 1.10 | 1.21 | 1.15 | 0.93 | 1.24 | 1.21 | 1.38 | 1.83 |
| P/FCF | 14.43 | 12.20 | 7.89 | 8.52 | 8.63 | 9.68 | 7.43 | 20.19 | 6.33 | 5.42 | — |
| P/OCF | 13.02 | 11.01 | 7.61 | 8.05 | 8.37 | 9.38 | 7.24 | 17.17 | 5.96 | 5.10 | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.38 | 2.44 | 2.72 | 4.62 | 3.28 | 2.44 | 3.63 | 4.14 | 5.88 | 5.82 |
| EV / EBITDA | 13.76 | 11.87 | 6.49 | 6.80 | 11.09 | 7.14 | 6.27 | 9.23 | 9.10 | 13.71 | 15.18 |
| EV / EBIT | 15.09 | 13.02 | 7.36 | 7.80 | 12.85 | 8.43 | 7.64 | 10.89 | 10.25 | 15.66 | 17.51 |
| EV / FCF | — | 13.98 | 6.56 | 7.33 | 12.92 | 8.42 | 6.16 | 19.50 | 7.19 | 7.10 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.9% | 63.9% | 68.4% | 73.0% | 91.5% | 97.0% | 81.5% | 83.2% | 87.0% | 91.5% | 93.4% |
| Operating Margin | 17.9% | 17.9% | 23.1% | 25.6% | 33.2% | 36.3% | 28.8% | 28.4% | 35.6% | 35.0% | 31.8% |
| Net Profit Margin | 13.0% | 13.0% | 17.2% | 20.4% | 26.4% | 28.6% | 22.6% | 21.8% | 26.3% | 20.3% | 20.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.0% | 7.0% | 8.6% | 10.1% | 10.4% | 9.5% | 8.1% | 9.3% | 10.3% | 8.2% | 10.3% |
| ROA | 0.9% | 0.9% | 0.9% | 1.0% | 1.0% | 1.1% | 1.0% | 1.2% | 1.3% | 0.9% | 1.1% |
| ROIC | 5.8% | 5.8% | 6.3% | 6.0% | 6.0% | 6.3% | 5.6% | 6.5% | 6.5% | 6.0% | 6.8% |
| ROCE | 2.3% | 2.3% | 8.3% | 8.9% | 9.3% | 9.0% | 7.9% | 9.4% | 10.8% | 10.8% | 11.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.20 | 0.20 | 0.34 | 0.41 | 0.80 | 0.48 | 0.38 | 0.39 | 0.41 | 0.80 | 0.70 |
| Debt / EBITDA | 2.39 | 2.39 | 2.70 | 2.96 | 4.90 | 3.45 | 3.11 | 3.01 | 2.69 | 6.07 | 4.71 |
| Net Debt / Equity | — | 0.13 | -0.17 | -0.15 | 0.60 | -0.15 | -0.16 | -0.04 | 0.17 | 0.43 | 0.42 |
| Net Debt / EBITDA | 1.51 | 1.51 | -1.31 | -1.11 | 3.69 | -1.07 | -1.30 | -0.33 | 1.10 | 3.26 | 2.82 |
| Debt / FCF | — | 1.78 | -1.33 | -1.20 | 4.29 | -1.26 | -1.27 | -0.69 | 0.87 | 1.69 | — |
| Interest Coverage | 0.58 | 0.58 | 0.76 | 0.96 | 4.43 | 5.58 | 2.94 | 1.95 | 3.00 | 5.16 | 7.47 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.07 | 0.07 | 0.19 | 0.27 | 0.25 | 0.44 | 0.33 | 0.27 | 0.15 | 0.19 | 0.20 |
| Quick Ratio | 0.07 | 0.07 | 0.19 | 0.27 | 0.25 | 0.44 | 0.33 | 0.27 | 0.15 | 0.19 | 0.20 |
| Cash Ratio | 0.05 | 0.05 | 0.07 | 0.07 | 0.02 | 0.08 | 0.08 | 0.07 | 0.04 | 0.05 | 0.04 |
| Asset Turnover | — | 0.06 | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.4% | 4.3% | 4.0% | 3.8% | 3.7% | 3.3% | 4.1% | 3.0% | 3.2% | 2.4% | 2.1% |
| Payout Ratio | 67.3% | 67.3% | 47.6% | 43.3% | 39.6% | 41.1% | 47.8% | 43.9% | 39.4% | 49.0% | 45.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.0% | 6.2% | 8.4% | 8.8% | 9.3% | 8.1% | 8.5% | 6.8% | 8.2% | 4.8% | 4.5% |
| FCF Yield | 6.9% | 8.2% | 12.7% | 11.7% | 11.6% | 10.3% | 13.5% | 5.0% | 15.8% | 18.5% | — |
| Buyback Yield | 2.8% | 3.3% | 0.0% | 0.3% | 0.7% | 2.2% | 1.0% | 1.6% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.2% | 7.6% | 4.0% | 4.1% | 4.4% | 5.5% | 5.1% | 4.6% | 3.2% | 2.4% | 2.1% |
| Shares Outstanding | — | $89M | $58M | $56M | $56M | $56M | $55M | $55M | $49M | $43M | $35M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BUSE stock.
First Busey Corporation's current P/E ratio is 20.2x. The historical average is 17.2x. This places it at the 82th percentile of its historical range.
First Busey Corporation's current EV/EBITDA is 13.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.6x.
First Busey Corporation's return on equity (ROE) is 7.0%. The historical average is 7.3%.
Based on historical data, First Busey Corporation is trading at a P/E of 20.2x. This is at the 82th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
First Busey Corporation's current dividend yield is 3.44% with a payout ratio of 67.3%.
First Busey Corporation has 63.9% gross margin and 17.9% operating margin. Operating margin between 10-20% is typical for established companies.
First Busey Corporation's Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Revenue quality and integration risk
Metrics are mathematically derived from official filings.
Premium Priced, Discounted Earnings
BUSE trades at 1.09x book and 20.6x trailing earnings, yet forward P/E of 11.9x implies market skepticism about earnings sustainability, per reported figures.
The wide gap between trailing and forward P/E suggests the market is discounting the recent revenue surge as non-recurring. At 1.09x P/B, the market prices BUSE as a commodity regional bank, not as a fintech hybrid, despite FirsTech's potential. This implies investors are not yet crediting the fee-income diversification with a premium multiple.
ROE Stuck at Sub-3% Levels
ROE has hovered between 2.0% and 2.6% over the past year, with a negative quarter in Q1 2025, as reported in quarterly data, indicating persistent profitability challenges.
DuPont decomposition reveals that a thin net interest margin (0.8% in 2025) and low asset utilization (ROA of 0.3%) are the primary drags on ROE. The efficiency ratio spiked to 89.7% in Q2 2026, suggesting that the revenue surge did not translate into operating leverage. Fee income as a percentage of revenue collapsed from 21.8% in Q1 2024 to 3.1% in Q2 2026, indicating a structural shift that may be masking core profitability.
NIM Turns Negative, Efficiency Spikes
Net interest margin fell to -1.6% in Q2 2026 from 0.9% in Q1 2026, while the efficiency ratio jumped to 89.7%, per the latest quarterly data, signaling severe spread compression.
The negative NIM is an outlier that likely reflects a non-recurring item, but the trend of sub-1% NIM throughout 2025 indicates structural pressure on asset yields relative to funding costs. The efficiency ratio's spike to 89.7% in Q2 2026 suggests that the revenue surge was not accompanied by proportional cost control, possibly due to integration costs from recent acquisitions. Investors should monitor whether the efficiency ratio normalizes to the mid-40s range seen in 2024.
Thin Equity Buffer, High Payout
Equity-to-assets ratio has remained around 0.13-0.14, with equity at $2.4B against $18.2B in assets, as per balance sheet data, indicating a modest capital buffer.
The equity ratio is thin relative to peers, and the payout ratio exceeded 100% in Q2 2026, with $90.5M returned to shareholders versus $63.2M net income. This suggests that capital generation is insufficient to sustain both growth and shareholder returns without increasing leverage. The large investment securities portfolio ($16.7B) exposes capital to AOCI volatility, which could further pressure regulatory capital ratios.
Credit Costs Normalize After Spike
Loan loss provisions spiked to $42.5M in Q1 2025 but have since normalized to $2.6M in Q2 2026, as reported in quarterly data, suggesting a one-time credit event.
The provision spike in Q1 2025 appears to be an isolated event, possibly related to a specific borrower or sector, but the normalization to sub-$6M levels indicates that credit quality has stabilized. However, the geographic concentration in Illinois and the agricultural portfolio exposure warrant monitoring, as regional economic stress could lead to a resurgence in provisions. The current reserve levels appear adequate based on the recent charge-off trends, but the lack of detailed NPL data limits conviction.
P/E Misleads on Earnings Quality
The trailing P/E of 20.6x is distorted by volatile provisions and non-recurring items, while the forward P/E of 11.9x better reflects normalized earnings, per reported figures.
For banks, P/E is often misapplied because provisions can cause earnings to swing dramatically, as seen in Q1 2025. The negative NIM in Q2 2026 further complicates the picture. Instead, investors should focus on P/TBV and ROTCE, which strip out the impact of intangible assets and provide a clearer view of core profitability. BUSE's P/B of 1.09x is more meaningful, but it still does not capture the potential value of FirsTech, which may require a sum-of-the-parts analysis.